Vietnam Wraps Up WTO Entry Talks With Canada

Vietnam concluded bilateral talks with Canada Wednesday on its entry into the World Trade WTO_Vietnam_024_06.jpgOrganization (WTO).

A Memorandum of Understanding to this effect was signed in Geneva, Switzerland, between vice trade minister Luong Van Tu, head of the Vietnamese mission, and Don Stephenson, head of the Canadian delegation at the WTO.

The talks began in 2001 and after nine rounds the two sides reached agreement on opening their commodity and service markets.

Canada is a major trade partner for Viet Nam with two-way trade between them reaching US$650 million in 2005.

In 2005, when the WTO Agreement on Textiles and Clothing (ATC) expired, Canada lifted quotas for Vietnam’s garment and textile exports.

The conclusion of the bilateral talks is expected to accelerate Vietnam’s bid for WTO membership and bolster cooperative ties between Vietnam and Canada.

Source:  Vietnam News Agency - Thanh Nien News